Graduation Year

2024

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Nicholas Kacher

Reader 2

Karla Cordova

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© 2023 Angeles I Soriano Martinez

Abstract

This research explores the relationship between the United State and Mexican housing market, particularly focusing on the U.S.-Mexico border. News reports discuss the rise in expats in Mexico after the COVID-19 pandemic and link it to the increase housing prices that are making housing for locals unaffordable. The objective of the study is to analyze the statistical significance of the independent variables focusing on the U.S. Housing Price Index (HPI) and the number of American citizens on the HPI of bordering Mexican states. The study uses three regression models with state and year fixed effects to analyze panel data that spans from 2010 to 2021. The findings reveal a statistically significant positive relationship between U.S. HPI and Mexican HPI when state and time fixed effects are not considered. Additionally, the presence of American citizens in Mexican border states has a significant positive effect on housing prices, while the percent change of American citizens is statistically insignificant across all models.

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